We first saw HARP around four years ago, and in that time around 2 million homeowners have benefitted from the program. Although this sounds like an incredibly high figure, the initial expectation from the Obama administration was for 2 million refi’s to take place within just 16 months. So it’s taken longer than expected for that amount of people to go through the program.

We can surmise that the administration feels that the program has not reached those who can benefit from the program in terms of refinancing. So they announced that there will be a nationwide campaign organized which will be designed to bring awareness to the program.

Of course, there are people out there who won’t qualify for HARP. First off, you need an existing loan owned by Freddie Mac or Fannie Mae. Second, the mortgage itself must have been purchased on or after June 1, 2009. Next, you have to make sure that you haven’t missed a mortgage payment within the last 6 months. On top of this you cannot have had more than one late payment within the last twelve months. Specifically, if you have been overdue by thirty days or more on more than one occasion within the last twelve months you are no longer eligible. Finally, if you have already refinanced through HARP, you can’t do it again. If you can meet these requirements, you have every chance of being accepted.

Client Testimonials

Here's a testimonial from one of our many satisfied mortgage client.

This was my second experience in buying a house and this was so much easier. Obviously my previous experience helped, but Scott Storace made the process so simple. I felt like he did all the work for me. He was always available...